The average American household spends $5,102 every month. Housing is the largest single category, accounting for 33% of monthly expenses. Transportation was the second-most expensive category at 16%.
What age group spends the most money in the US?
The 65-and-older group did have the highest level of expenditures in two major components, health care and cash contributions. They spent $2,936 on health care (a 12-percent share), al- most $1,000 more than the 35- to 64-year old age group and $1,900 more than the under-35 age group.
What age group has the most buying power?
1. Your business will soon depend on Millennials. By 2017, Millennials – those currently in their mid-teens to mid-30s — are estimated to have more spending power than any other age group.
What age group has the most money?
Here’s a closer look at net worth by age in the U.S. The age group with the highest net worth is those aged 65-74, sitting at around $1.22 million. Coming in at a close second, are 55-64 year olds, at $1.18 million. However, these are the numbers using the average, while median net worth is quite different.
What does the average American spend their money on?
While this chart shows the averages across all American consumer units, earnings and spending vary by factors such as location, gender, and age group.
Where do people spend the most money on food?
Arizona is the place to be if you’re vegan! Americans from this state are the most willing to spend in the higher price ranges for vegan specific products, with 5% of people spending more than $71 per month on vegan produce, which is 5% higher than the national average!
How much of the US GDP is spent on consumer spending?
However, consumer spending accounts for 68 percent of the country’s GDP, making it essential for economic strength. Our newest visualization takes a closer look at how Americans are spending their money.
How much does the average American spend on housing per year?
On average, Americans hand over $17,148 to cover their annual housing costs. That’s nearly $350 more than they spent in 2011. 8. What percentage of Americans own their home?
